Heat contracts: How the offseason math shook out

Ira WindermanSouth Florida Sun Sentinel

The Miami Heat schooled the NBA during the regular season and playoffs. They also managed to make efficient work of their offseason math.

Here's an update to help make sense of the numbers, with the only prime consideration left being what, if anything, Pat Riley and his personnel staff might do with their $3.2 million taxpayer mid-level exception, after avoiding that expenditure with the signings of Greg Oden, Michael Beasley and Roger Mason Jr.

LeBron James

2013-14 contract status: James is under contract for $19 million this season, with two additional seasons on his contract. He holds a player opt-out for both the 2014 and 2015 offseasons, when he can become a free agent.

How the math works: No sooner did the championship horn sound on the 2013 title then the clock began running toward James' June 30, 2014 opt-out deadline. It will be a season-long reality, with plenty of external noise regarding the plans of the Los Angeles Lakers and Cleveland Cavaliers.

Dwyane Wade

2013-14 contract status: Wade is under contract for $18.7 million this season, with two additional seasons on his contract. He holds a player opt-out for both the 2014 and 2015 offseasons, when he can become a free agent.

How the math works: Wade's knee issues make it possible he bypasses both his 2014 and 2015 opt-outs, unless he can get more years in return for less money.

Chris Bosh

2013-14 contract status: Bosh is under contract for $19 million this season, with two additional seasons on his contract. He holds a player opt-out for both the 2014 and 2015 offseasons, when he can become a free agent.

How the math works: A trade could potentially alleviate luxury-tax burdens, but he also is the right Big Three fit.

Mario Chalmers

2013-14 contract status: The Heat exercised their team option on Chalmers' $4 million salary for 2013-14.

How the math works: At $4 million, he stands as a value fit, although he also could become too costly next summer, potential leading the Heat to take a proactive stance at the position.

Ray Allen

2013-14 contract status: Allen exercised his $3.2 million player option to return for 2013-14.

How the math works: Count him in for 2013-14.

Greg Oden

2013-14 contract status: Oden was signed as a free agent at the veteran's minimum of $1 million for 2013-14.

How the math works: Oden becomes a free agent in the 2014 offseason.

Shane Battier

2013-14 contract status: Battier is under contract for $3.3 million this season on the final season on his contract.

How the math works: One more season and then retirement?

Chris Andersen

2013-14 contract status: Andersen has agreed to return as a free agent for 2013-14 at $1.4 million, with a $1.5 million player option for 2014-15.

How the math works: Andersen now will be in position to receive early-Bird rights from the Heat next summer for a more lucrative, longer-term contract.

Udonis Haslem

2013-14 contract status: Haslem is under contract for $4.3 million this season, as the fourth-highest-paid player on the roster, with one additional season on his contract, a player option.

How the math works: Mr. 305/954 a franchise fixture.

Norris Cole

2013-14 contract status: Cole is under contract for $1.1 million this season, with the Heat also picking up his rookie-scale option for 2014-15, making him the lone player under guaranteed contract to the Heat for 2014-15.

How the math works: Perhaps most cost-effective labor on the Heat roster.

Joel Anthony

2013-14 contract status: Anthony is under contract for $3.8 million this season, with one additional season on his contract, a player option.

How the math works: With the Heat utilizing their amnesty provision on Mike Miller, Anthony no longer is at risk for amnesty. His contract still could be offloaded in a trade.

Rashard Lewis

2013-14 contract status: Lewis has exercised a $1.4 million player option for 2013-14.

How the math works: Count him in for 2013-14.

James Jones

2013-14 contract status: Jones has exercised a $1.5 million player option for 2013-14.

How the math works: Count him in for 2013-14.

Jarvis Varnado

2013-14 contract status: Varnado was under contract for $789,000 this season. None of his 2013-14 salary was guaranteed until opening night, and then only a portion.

How the math works: Was released Oct. 21, with no salary impact on Heat's 2013-14 payroll.

Michael Beasley

2013-14 contract status: Beasley signed for one year at $1,027,424 for the coming season, the veteran minimum for a player with five years in the league.

How the math works: Beasley's contract is not guaranteed and would not become fully guaranteed until Jan. 10, when all NBA contracts become guaranteed for the season.

Roger Mason Jr.

2013-14 contract status: Mason signed for one year at $1,399,507 for the coming season, the veteran minimum for a player with 10 years in the league.

How the math works: Mason's contract is not guaranteed and would not become fully guaranteed until Jan. 10, when all NBA contracts become guaranteed for the season.

Justin Hamilton

2013-14 contract status: The center out of LSU taken in the second round of the 2012 NBA Draft signed for one year at $490,180 for the coming season.

How the math works: Was released Oct. 26, with no salary impact on Heat's 2013-14 payroll.

Eric Griffin

2013-14 contract status: The undrafted rookie free agent signed for one year at $490,180 for the coming season.

How the math works: Was released Oct. 26, with no salary impact on Heat's 2013-14 payroll.

Larry Drew II

2013-14 contract status: The undrafted rookie free agent was signed for one year at $490,180 for the coming season.

How the math works: Was released Oct. 21, with no salary impact on Heat's 2013-14 payroll.

Charlie Westbrook

2013-14 contract status: The undrafted rookie free agent was signed for one year at $490,180 for the coming season.

How the math works: Was released Oct. 21, with no salary impact on Heat's 2013-14 payroll.

Juwan Howard

2013-14 contract status: Howard became an unrestricted free agent on July 1.

How the math works: Howard has retired to become a Heat assistant coach.

Mike Miller

2013-14 contract status: Miller was under contract for $6.2 million this season, as the fourth-highest-paid player on the roster, with one additional season on his contract, a player option. He was, however, released through the NBA's amnesty program, relieving the Heat of their luxury-tax and salary-cap obligation on his contract.

How the math works: Under amnesty rules, Miller cannot return to the Heat, under any means, before the 2015 offseason.